Toronto stocks fell Thursday as the price of oil neared US$53 a barrel in morning trading on the New York Mercantile Exchange. At midday, the S&P/TSX composite index was down 21.10 points or 0.24% at 8,850.83 on volume of 164 million shares.

The latest increase to oil prices came as continuing woes in Nigeria and the Gulf of Mexico collided with inexorably rising demand.

Investors are also looking ahead to Friday’s key jobs reports from Canada and the United States.

Eight of the TSX’s 10 groups were trading lower with healthcare stocks off 1.36% and industrial stocks down 0.95%. The rising price of oil ceased to lift the TSX energy group, which fell 0.11%.

Among energy stocks, Ivanhoe Energy jumped 17% as the company reported its best-ever sales from the Dagang oil project in China. Ivanhoe said the Dagang operation had gross sales of US$1.2 million in August, its first month above US$1 million, and production now averages 1,650 barrels per day. Ivanhoe shares were up 52¢ to $3.55.

In earnings news, ATI Technologies shares rose $1.30 or 6.16% to $22.42 after the firm said its fourth-quarter profit almost tripled to US$61.2 million as revenue soared 50%.

However, shares of CI Fund Management fell 21¢ to $15.57 even though the firm reported a 87% increase in first quarter profit.

In other news, shares of Bombardier fell 16¢ or 5.37% to $.2.82 after the firm’s aerospace division announced it is cutting 2,000 jobs – including 1,440 in the Montreal area – because of weak demand for its Canadair Regional Jets.

The junior S&P/TSX Venture composite index was up 5.85 points at 1,675.76.

In New York, disappointing retail sales and rising oil prices sent stocks lower. Rising gasoline prices slowed U.S. retail sales in September, usually a robust month for shoppers.

The Dow Jones industrial average fell 63.86 or 0.62% to 10,176.06.

The S&P 500 was down 7.50 or 0.66% at 1,134.55, and the tech-heavy Nasdaq composite index lost 12.90 or 0.65% to 1,958.13.

U.S. Initial jobless claims fell by 37,000 to a seasonally adjusted 335,000 in the week that ended Oct. 2, the Labor Department said. That’s the first drop in four weeks.

The four-week average of claims, considered a more stable indicator by economists, climbed to 348,500, up 4,250 from 344,250. Forecasters had called for initial claims to decrease by just 19,000.

In other economic news, the European Central Bank left its key refinancing rate unchanged at 2% Thursday amid signs that the recovery in the 12-country euro zone may be sputtering. At the same time the Bank of England left its key interest rate unchanged at 4.75%.